Open Banking Reforms Gather Pace As Jan. Deadline Looms

Law360, London (September 12, 2017, 12:24 PM BST) -- The era of “open banking” is just four months away and promises to forever alter retail lending as the biggest names in the space gear up for the January deadline set by the U.K.'s competition authority, officials behind the project told Law360 on Tuesday.

The Competition and Markets Authority open banking proposals, which enter into force in January, are the CMA's broadest and most ambitious reforms since Britain’s competition watchdog was established in 2013.

The CMA initiative includes forcing banks to open their systems for new technology firms...